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XYZ Incorporated has issued 12 million new shares of stock. An investment bank agrees to underwrite these shares on a best efforts basis. The investment
XYZ Incorporated has issued 12 million new shares of stock. An investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 10.2 million shares for $28 per share, and it charges XYZ $0.765 per share sold.
How much money does XYZ receive?
-1,500
-3,000
3,000
1,500
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